India Incs Q1 revenue growth estimated at 4-6 pc: Crisil Intelligence
The power, coal, IT services and steel sectors collectively account for a third of the revenue of over 600 companies analysed, Crisil Intelligence said in a statement.
Nevertheless, five sectors — pharmaceuticals, telecom services, organised retail, aluminium and airline — likely drove revenue growth for India Inc in the first quarter, it added.
'The early onset of monsoon and lingering geopolitical uncertainties are expected to have materially impacted some sectors in April-June," Crisil Intelligence Director Pushan Sharma said.
Rain-induced cooler summer culled demand for electricity. Consequently, the power sector's revenue is seen declining 8 per cent year-on-year. The lower demand also pushed down spot prices of electricity, and led to a 2-3 per cent lower demand for coal, Sharma said.
'On the other hand, geopolitical uncertainties impacted the IT services sector, where revenue growth is seen flat on-year due to project delays stemming from tariff worries, which led to a slowdown in activity," he added.
Crisil Intelligence said the steel sector's revenue is expected to have grown a moderate 1-3 per cent on-year, due to planned maintenance shutdowns at major steel mills and a 2-4 per cent on-year decline in prices.
On the other hand, the auto sector's revenue is estimated to rise by 4 per cent on-year owing to higher retail sales, partially offset by high inventory, it said, adding 'an increase in prices stemming from changes in product mix and higher export realisations likely helped revenue grow".
The construction sector revenue is expected to climb up 6 per cent on-year as engineering, procurement and construction (EPC) companies benefited from a low base effect caused by disruptions from general elections in the first quarter of last fiscal despite no significant increase in the Union Budget allocation for the sector, it added.
In the first quarter, revenue for pharmaceuticals sector is seen up 9-11 per cent on-year, higher than corporate India's revenue growth for the past 10 quarters, driven by strong export demand and a stable domestic market, Crisil Intelligence said.
It further said telecom services revenue is expected to grow 12 per cent on-year, fuelled by higher realisations of around 11 per cent on account of costlier subscription plans.
Organised retail revenue likely rose 15-17 per cent in the first quarter, led by the value fashion and food and grocery segments, it added.
Revenue expansion in the steel, cement and FMCG sectors was likely driven by volume growth of 7-9 per cent, 3-4 per cent and 4-5 per cent respectively.
In the cement sector, a low base, the pre-monsoon construction spree and healthy domestic demand pushed volume higher, despite the shutdown of a few mills, while a pick-up in rural demand supported the FMCG sector's volume growth, the statement said.
Aluminium sector's revenue is seen up at 23 per cent, owing to higher domestic demand, particularly through transmission lines, higher domestic output after Bharat Aluminium Company's expansion, more export opportunities from lower trade volatility between major economies, and an improvement in realisations due to a higher share of downstream products, Crisil Intelligence said.
Likewise, airline revenue is expected to rise 15 per cent on-year, driven by an increase of 10-12 per cent in volume owing to expanded supply on account of reduced aircraft groundings and addition of new aircraft, it added. PTI RKL DRR
view comments
First Published:
July 28, 2025, 14:45 IST
Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
26 minutes ago
- Time of India
ED's conviction rate in PMLA cases over 92% in last 5 years: Official data
The conviction rate secured by the Enforcement Directorate (ED) in money laundering cases over the last five years has been more than 92 per cent, an official data said. According to the data accessed by PTI, various special Prevention of Money Laundering Act ( PMLA ) courts delivered judgments in 41 cases registered under the said law between January 2020 and July 2025, out of which conviction orders were passed in 38 instances leading to the conviction of 98 accused. Productivity Tool Zero to Hero in Microsoft Excel: Complete Excel guide By Metla Sudha Sekhar View Program Finance Introduction to Technical Analysis & Candlestick Theory By Dinesh Nagpal View Program Finance Financial Literacy i e Lets Crack the Billionaire Code By CA Rahul Gupta View Program Digital Marketing Digital Marketing Masterclass by Neil Patel By Neil Patel View Program Finance Technical Analysis Demystified- A Complete Guide to Trading By Kunal Patel View Program Productivity Tool Excel Essentials to Expert: Your Complete Guide By Study at home View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program The conviction rate is calculated by using the formula of taking the total number of cases in which the accused have been convicted as a percentage of total cases decided on merits on the issue of money laundering, according to officials and the data. Hence, the conviction rate secured by the ED in money laundering cases over the last five years comes to 92.68 per cent (38/41X100) in about five years, they said. The ED has been regularly targeted by political parties in the opposition, claiming its actions were biased and that its conviction rate was "poor". Live Events A report prepared by the agency for the 2024-25 financial year said while the legal framework under the PMLA provides for a "structured mechanism" for prosecution, the timely completion of trials continued to face several "systemic" and "procedural" hurdles. The report released in May said a "primary challenge" in this context was that prosecution of money laundering cases was "intrinsically" linked to the progress of the investigation or trial of the corresponding predicate or primary offence. "Delays in those proceedings invariably impact the PMLA trial," the report said. According to the PMLA scheme, which came into force in 2005, the ED cannot register an independent case but has to base its complaint on a primary FIR of the police or any other investigating agency, which is called the predicate offence . The data also said the ED registered just over 5,063 money laundering cases over the same period (January 2020-July 2025) and the courts ordered confiscation of assets worth Rs 55.14 crore in the context of conviction cases. The courts also ordered confiscation of assets to the tune of Rs 15,558.21 crore under section 8(7) of PMLA (cases where trial cannot be conducted) during the same period.
News18
32 minutes ago
- News18
Chinese group Ant Financial sells 1.46 pc stake in Eternal for Rs 4,097 cr
Agency: PTI New Delhi, Aug 7 (PTI) Chinese billionaire Jack Ma-owned Ant Financial on Thursday made a partial exit by divesting a 1.46 per cent stake in Eternal, the parent company of Zomato and Blinkit brands, for Rs 4,097 crore through open market transactions. The stake sale comes days after Ant Financial exited One97 Communications, the parent company of Paytm, by selling its entire 5.84 per cent stake for Rs 3,980 crore through open market transactions. Ant Group through its arm Antfin Singapore Holding Pte Ltd sold a little over 14.13 crore equity shares or a 1.46 per cent stake in Gurugram-based Eternal, as per the bulk deal data on the NSE. Ant Group, formerly known as Ant Financial, is an affiliate company of the Chinese conglomerate Alibaba Group. The shares were offloaded at an average price of Rs 289.91 apiece, taking the deal value to Rs 4,096.75 crore. After the latest transaction, Antfin's holding in Eternal has come down to 0.49 per cent stake from 1.95 per cent. Details of the buyers of Eternal's shares could not be ascertained on the exchange. Shares of Eternal rose 1.46 per cent to close at Rs 303.20 apiece on the National Stock Exchange (NSE). Last month, food delivery and quick commerce firm Eternal reported a consolidated net profit of Rs 25 crore for the first quarter. The company, which re-branded itself as Eternal in March, had reported a net profit of Rs 253 crore a year ago. During the quarter under review, Eternal's revenue from operations stood at Rs 7,167 crore, up from Rs 4,206 crore a year ago. In August last year, Antfin Singapore Holding sold a little over 2 per cent stake in Zomato for Rs 4,771 crore. Prior to that, in March, Antfin pared a 2 per cent stake in Gurugram-based food delivery firm for Rs 2,827 crore. In 2023, Alipay Singapore Holding, an arm of Chinese e-commerce giant Alibaba, divested its entire 3.44 per cent holding in Zomato for Rs 3,337 crore. PTI HG HG MR view comments First Published: August 07, 2025, 20:45 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
News18
32 minutes ago
- News18
Home-cooked meals become cheaper in Jul
Agency: PTI Last Updated: Mumbai, Aug 7 (PTI) The average costs of preparing home-cooked vegetarian and non-vegetarian meals declined in July due to lower prices of vegetables, a report said on Thursday. A vegetarian thali cost dropped 14 per cent year-on-year to Rs 28.1 against Rs 32.6, but was up 4 per cent month-on-month, when compared to Rs 27.1 in June, according to Crisil's Intelligence's Roti Rice Rate report. In the case of a non-vegetarian meal, the prices dropped 13 per cent year-on-year and 2 per cent month-on-month to Rs 53.5 per plate, it added. 'In the near term, thali prices are expected to remain lower year-on-year, owing to a high base of tomato prices. Anticipated higher production of pulses is also likely to soften prices," its director, Pushan Sharma said. Sharma, however, added that the extent of the decline may be limited as potato and onion prices are expected to remain firm going forward. The report explained that a decline in vegetarian thali cost year-on-year was led by a sharp drop in the prices of tomato, onion and potato on a high base. Additionally, prices of pulses declined 14 per cent year-on-year, driven by higher production and stock levels compared to the year-ago period, and the cost of rice declined 4 per cent year-on-year, it noted. The vegetarian meal prices were higher month-on-month because of a 31 per cent increase in tomato prices and also a marginal increase in potato and onion prices, it said. In the case of non-vegetarian meals, lower vegetable prices and a 12 per cent year-on-year and 9 per cent month-on-month decline in broiler prices helped, it added. PTI AA BAL BAL view comments First Published: Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
